exitmusic Posted February 19, 2020 Share Posted February 19, 2020 5 hours ago, garfield said: Not to mention that there's Chapters 11, 13, 7... Not all of those treat creditors in the same way. A presumption being made here is that Cadets made deals by themselves out from under the YEA! umbrella. Not even GH would be so stupid. And, frankly, because Cadets was not a separate entity with their own Fed Tax ID, I'd bet almost all, if not all, debt was incurred under the YEA! banner. In fact, a case can be made that YEA! was prudent in shedding Cadets as their biggest expense. If their biggest revenue source, USBands, can't make it anymore, well, then bank-o it is. Not true. A distressed entity doesn't get to just shed assets without paying the debts. The legal concept of successor liability is often applied by courts to the receiving entity where the transfer was effectuated for the purpose of avoiding obligations. In this case, it is likely that YEA can't just jettison The Cadets without The Cadets absorbing any liability, such as old bus bills, etc. And YES, GH absolutely could be so stupid. 1 Quote Link to comment Share on other sites More sharing options...
MikeD Posted February 19, 2020 Share Posted February 19, 2020 1 hour ago, HockeyDad said: Ugh. Just curious how that could happen. Late season, you should have the timing down. So what happened? That must have been crushing. How far over was it? All the way to Whitewater the staff....Bobby Hoffman, Pete Emmons, Don Angelica, and Fred Sanford, messed with the show, adding, tweaking, adding, tweaking....but you never saw the word "removing" in that. The show got longer and longer. Apparently nobody on staff thought to actually time the additions they made. So...we missed finals. The day after we performed...the staff disappeared. The show itself was amazing (No More War), but the overall vibe of the season was just not the same as 1971 (America, the Brave), which was an amazing year. 1 Quote Link to comment Share on other sites More sharing options...
2000Cadet Posted February 19, 2020 Share Posted February 19, 2020 Hopefully they'll have an EXCELLENT show in 2020! 3 Quote Link to comment Share on other sites More sharing options...
MikeD Posted February 19, 2020 Share Posted February 19, 2020 1 hour ago, GUARDLING said: Well like with anything. Even those who were there at the time there can be different views, especially back in the day. It's not like today when young people know pretty much everything about everything, back then ( the good or bad of it) kids , and corps were younger, you listened and did and that's it. With respect to Mike, you posed the question to him, I probably shouldn't have answered BUT I may chime in a bit after Mike responds 🙂 I also don't think you are picking an old scab at all. You just asked a question. I was a member,, not even 19 yet so I may not have all the details. Feel free to chime in what you may know. Quote Link to comment Share on other sites More sharing options...
Terri Schehr Posted February 19, 2020 Share Posted February 19, 2020 22 minutes ago, MikeD said: I was a member,, not even 19 yet so I may not have all the details. Feel free to chime in what you may know. That first DCI was a whole different thing anyway. We marched on the same field, Mike! 1 Quote Link to comment Share on other sites More sharing options...
GUARDLING Posted February 19, 2020 Share Posted February 19, 2020 35 minutes ago, MikeD said: I was a member,, not even 19 yet so I may not have all the details. Feel free to chime in what you may know. Well. If you remember they were also with another corps that year ( staff ) Your details are for sure right but all I will add is that at some point near the time of Whitewater a warning had been given. If you remember, a great staff, a new approach, a new era beginning etc. etc. and along with that came a bit of arrogance . 1 Quote Link to comment Share on other sites More sharing options...
garfield Posted February 19, 2020 Share Posted February 19, 2020 6 hours ago, exitmusic said: Not true. A distressed entity doesn't get to just shed assets without paying the debts. The legal concept of successor liability is often applied by courts to the receiving entity where the transfer was effectuated for the purpose of avoiding obligations. In this case, it is likely that YEA can't just jettison The Cadets without The Cadets absorbing any liability, such as old bus bills, etc. And YES, GH absolutely could be so stupid. Exactly what "Asset" is Cadets to YEA!? "...shed assets..."? 1 Quote Link to comment Share on other sites More sharing options...
cybersnyder Posted February 19, 2020 Share Posted February 19, 2020 1 hour ago, garfield said: Exactly what "Asset" is Cadets to YEA!? "...shed assets..."? Cadets may not be considered an asset, but the trucks are. Quote Link to comment Share on other sites More sharing options...
HockeyDad Posted February 19, 2020 Share Posted February 19, 2020 9 hours ago, MikeD said: All the way to Whitewater the staff....Bobby Hoffman, Pete Emmons, Don Angelica, and Fred Sanford, messed with the show, adding, tweaking, adding, tweaking....but you never saw the word "removing" in that. The show got longer and longer. Apparently nobody on staff thought to actually time the additions they made. So...we missed finals. The day after we performed...the staff disappeared. The show itself was amazing (No More War), but the overall vibe of the season was just not the same as 1971 (America, the Brave), which was an amazing year. That’s an all-star staff right there. Unfortunately they probably learned their lesson at your expense.. 1 Quote Link to comment Share on other sites More sharing options...
njthundrrd Posted February 19, 2020 Share Posted February 19, 2020 (edited) THURSDAY NIGHT is a webinar that the Cadets office is running. Feel free to attend. More info in the link below. https://yea.org/cadets/schedule And if any of you are close to Northern NJ on April 19th, please come to our wine and food event, meet more alumni, Denise, and myself. You can hear more of what is going on there also.... and have some great wine and food too! Edited February 19, 2020 by njthundrrd 3 Quote Link to comment Share on other sites More sharing options...
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